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Other income tax

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Philo2019
Philo2019 Posts: 2 Newbie
edited 10 June 2019 at 4:44PM in Cutting tax
Hi,

How to pay tax for money received from an investment?

The other day I saw this new article .birminghammail.co.uk/news/midlands-news/meet-17-year-old-boy-16335563 and had a chat with him to see what's it all about and thinking of a trail invested £300. The return would be around £100- £150 on investment. it will be bank to bank transfer or paypal. Do investment this like need to be reported for tax separately? for instance I saw a post of bigger return of £5000. How does one go about it?
If a person is already employed and receives P60.

Comments

  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    ROI ?
    Wassat?
  • I mean return on invesment. edited my post.
  • Tom99
    Tom99 Posts: 5,371 Forumite
    1,000 Posts Second Anniversary
    I would not worry about tax until after you have received your 33%/50% profit.
  • unholyangel
    unholyangel Posts: 16,866 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Is he even regulated? The "legal" section of his website makes no mention of it which is quite worrying when its information they're legally obliged to give.

    That coupled with the obvious lack of care he's given his site (basic spelling errors) would have me running a mile.

    He doesn't even seem to comply with e-commerce or consumer laws, never mind financial conduct ones!
    You keep using that word. I do not think it means what you think it means - Inigo Montoya, The Princess Bride
  • penners324
    penners324 Posts: 3,511 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    I'd be more concerned that you've been scammed out your money than any tax implications.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    edited 12 June 2019 at 8:08AM
    LOL its selling Forex Trading courses. I'm not sure if you can claim CGT losses from your expense on the courses (what do they say, "buy low sell high"?) or the actual forex trading.

    That would be your main "benefit". Kiss your money goodbye.
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